Hanmi Financial (HAFC) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Hanmi Financial (NASDAQ:HAFC) from a hold rating to a strong-buy rating in a research report report published on Monday. They currently have $35.00 price objective on the bank’s stock.

According to Zacks, “Hanmi Financial Corporation is the holding company for Hanmi Bank, one of the leading banks providing services to the multi-ethnic communities of Southern California with full service offices. Hanmi Bank is a business bank conducting a general community banking business, with its primary market encompassing multi-ethnic small business customers. The bank specializes in commercial, SBA, trade finance, and consumer lending and is a recognized community leader serving the diverse communities throughout Southern California. (PRESS RELEASE) “

A number of other equities research analysts also recently issued reports on HAFC. ValuEngine raised shares of Hanmi Financial from a hold rating to a buy rating in a research report on Wednesday, September 27th. Keefe, Bruyette & Woods reissued a hold rating and set a $32.00 price objective on shares of Hanmi Financial in a research report on Friday, December 22nd. BidaskClub downgraded shares of Hanmi Financial from a buy rating to a hold rating in a research report on Tuesday, December 12th. Finally, Piper Jaffray Companies reissued a hold rating and set a $31.00 price objective on shares of Hanmi Financial in a research report on Friday, October 6th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $33.00.

Shares of Hanmi Financial (NASDAQ HAFC) opened at $29.95 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.00 and a quick ratio of 1.00. Hanmi Financial has a 1 year low of $25.45 and a 1 year high of $35.80. The company has a market cap of $970.66, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 1.82 and a beta of 0.79.

Hanmi Financial (NASDAQ:HAFC) last issued its quarterly earnings data on Tuesday, October 17th. The bank reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46. Hanmi Financial had a net margin of 24.54% and a return on equity of 10.60%. The firm had revenue of $53.74 million during the quarter, compared to the consensus estimate of $53.30 million. During the same quarter in the previous year, the firm posted $0.41 EPS. equities analysts expect that Hanmi Financial will post 1.81 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. grew its position in shares of Hanmi Financial by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 5,112 shares of the bank’s stock valued at $145,000 after acquiring an additional 765 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of Hanmi Financial during the 3rd quarter valued at $218,000. Aperio Group LLC purchased a new position in shares of Hanmi Financial during the 3rd quarter valued at $233,000. Airain ltd purchased a new position in shares of Hanmi Financial during the 2nd quarter valued at $226,000. Finally, Janney Capital Management LLC purchased a new position in shares of Hanmi Financial during the 3rd quarter valued at $258,000. 89.95% of the stock is owned by hedge funds and other institutional investors.

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About Hanmi Financial

Hanmi Financial Corporation is the holding company for Hanmi Bank (the Bank). The Bank is a community bank conducting general business banking, with its primary market encompassing the Korean-American community, as well as other ethnic communities across California, Colorado, Georgia, Illinois, New York, Texas, Virginia and Washington.

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